And yet the bid was unmoved by the so-called "wash trading". How does one cause panic when the PPS is not changed by the alleged "wash trading" and the bid is also unaffected (if it is a wash trade).
So why would anyone see the bid eat up a million shares and nott move have cause to panic?
Quite the opposite. They would think there is a solid floor and that some bidder(s) is/are eating up as many shares as are being sold into the bid.
That is what is called a rock solid floor of bid support. It would cause no panic at all, quite the opposite.